Noted economist, David Rosenberg is 99% sure that the U.S. will be in a recession by next year.
Rosenberg is currently the Chief Economist & Strategist at Gluskin Shuff & Associates.
Formerly with Merrill Lynch Rosenberg has been a bear on the economy for quite some time.
He believes we may be for a recession next year.
“By 2012, I would give it a 99% chance of occurring,” Rosenberg said.
Rosenberg said, “Once the Fed sees the whites of the eyes of the economy, the Fed will begin a third round of what's called quantitative easing. It’ll come but not immediately.”
As for tomorrow’s Fed decision on interest rates, Rosenberg does not expect any significant change and that the Fed will “stick to the script of the end of QE2” and excepts the Fed to be “on hold” instead of tightening.
So what about you - do you think the US is headed for a recession in 2012?
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